Business Exit Strategy Planning
You’ve worked hard building your business from the ground up, and for many people a profitable business exit represents a lifetime achievement. It is the opportunity to reap the rewards of many years of hard work. Taggart & Partners can assist you in creating a solid business exit strategy that can help to make sure you have the best chance of optimising the value of your business and achieving all of your personal goals.
Contact us now to get start with your exit strategy business planning today!
Business Exit Strategy
Business exit strategy planning is the process of preparing for the transition of ownership of a business to a new owner or a different company. The transferring of business ownership can be wrought with difficulties and challenges, so having an exit plan in place can make the whole process a lot easier and help ensure the owner receives the best value for their business.
Types of Business Exit Strategies
Different business owners have different goals for their business. Some entrepreneurs have wealth creation as a primary business goal. For them selling a business to a private equity firm can be appropriate. Other business owners who are more attached to their business may want to see the business live on in its current form. In that cased, a family succession plan or the sale of the business to its current employees can be the best option. No matter the situation, Taggart & Partners can advise you on the best planning strategies to make sure the transition of ownership of your business happens smoothly.
The Primary Business Buyers and Exit Strategy Types:
- A private equity firm
- Another business
- Family succession
- Bringing the business public
- Shutting down and liquidating assets
Any of these strategies can be profitable or help the business owner reach their goals. Let the team at Taggart & Partners help you to determine which business exit strategy is best for you and your business, and how to best approach exit planning. You can contact us on 07 3391 1188 or get in touch via the online form to discuss your options and begin the process of planning for your business exit.
Reasons Why a Business Exit Strategy is Important
Business exit strategy planning is important, and it’s important to start planning well before you transfer ownership of the business. All too many business owners leave the planning of their exit strategy until the decision has been made to exit the business. This can lead to the business being valued at less than what the owner had expected.
Having a well establish exit plan in place can help in attracting the best potential buyers and in protecting assets. A potential buyer is likely to scrutinise your business, and proper planning will allow you to prepare for and anticipate everything to make the deal more secure. Careful planning is also important for making sure your documentation is in order and to make sure everything is set for negotiations.
An exit plan is not only about the sale of a business – it is also about transferring skills, knowledge and other intangible assets to the future owner. Exit planning can help in every aspect of the sale of a business.
Getting Help from a Firm with Experience
Business exit planning can be difficult, so it is to your advantage to get help from an experienced source. The business transition team at Taggart & Partners specialises in assisting business in the transition of ownership through exit planning in ways that maximise value.
Contact Taggart & Partners Today!
Taggart & Partners serves as a large and small business accountant, as well as a business advisory services firm. We can assist you with your exit strategy planning or any other business asset protection strategies. Please get in touch if you’d like to set up a meeting to discuss our services. You can reach us on 07 3391 1188 or you can contact us by using our online form.